In the exact moment you run out of laundry detergent and realize you need to pick some up at the store, you are in the problem recognition stage of the buying decision process. The problem recognition stage is realizing you have to make the purchase versus deciding to make the purchase of something.
Answer: Option (d) is correct.
Explanation:
Correct option: Only a perfectly competitive firm operates at its efficient scale.
In the perfectly competitive market and in the long run, the firms who are making losses will exit the market and those firms who are able produce at a point where price is equal to the average total cost will exist in the market.
However, monopolistic firms operates at a below efficient level of production and with an excess capacity.
Competitive firms are generally enjoys the productive efficiency in the long run because these firms have the capability to produce at a lower average total cost.
Answer:
3400, Rise, C
Explanation:
1. Since there are just 3 firms and two already has a sum total of 70% (40+30), the third firm will have a market share of 30%
HHI= 
HHI= 1600+900+900
HHI= 3400
2. Abe's Bikes with 30% leaves the market, if the two firms were to share Abe's market share equally (15+15), it will leave Firm A with 55% (40+15) and Firm B with (30+15) 45%
Therefore,
HHI= 
HHI=3025+2025
HHI= 5050
A rise in HHI
3. C
An index of 10,000 corresponds to a monopoly firm with 100% market share.
Answer: 4. Demand will shift inwards, lower rates and decreasing lending.
Explanation:
People demand loanable funds for spending on consumption and investment. If there is a recession, people will buy less goods and companies will invest less as well.
This will reduce the demand that people and companies have for loanable funds. The demand will therefore shift inwards to the left and lead to lower rates and decreased lending.
A hypothesis is a educated guess made about the predicted outcome of the experiment. They are made before starting the scientific experiment.
